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Internal Revenue Code · 26 U.S.C.

§ 6050Z. Reports relating to long-term care premium statements

In force Text current through Public Law 119-121 (October 9, 2026) release point 119-121

Official text, no changes From the Office of the Law Revision Counsel, release point 119-121 (current through Public Law 119-121 (October 9, 2026)). Compare it with the official text at uscode.house.gov (external site).

Cite as 26 U.S.C. § 6050Z

At a glance

Read from the text, the source credit and the official notes. Not part of the law.

Status
In force
Added
December 29, 2022 by Pub. L. 117–328
Length
4 subsections · 414 words · about 2 min to read
(a) Requirement of reporting Any issuer of certified long-term care insurance (as defined in section 401(a)(39)(C)) who provides a long-term care premium statement with respect to any purchaser pursuant to section 401(a)(39)(E) for a calendar year, shall make a return not later than February 1 of the succeeding calendar year, according to forms or regulations prescribed by the Secretary, setting forth with respect to each such purchaser—
(1) the name and taxpayer identification number of such issuer,
(2) a statement that the coverage is certified long-term care insurance as defined in section 401(a)(39)(C),
(3) the name of the owner of such coverage,
(4) identification of the individual covered and such individual’s relationship to the owner,
(5) the premiums paid for the coverage for the calendar year, and
(6) such other information as the Secretary may require.
(b) Statement to be furnished to persons with respect to whom information is required Every person required to make a return under subsection (a) shall furnish to each individual whose name is required to be set forth in such return a written statement showing—
(1) the name, address, and phone number of the information contact of the issuer of the contract or coverage, and
(2) the aggregate amount of premiums and charges paid under the contract or coverage covering the insured individual during the calendar year.
The written statement required under the preceding sentence shall be furnished to the individual or individuals on or before January 31 of the year following the calendar year for which the return required under subsection (a) was required to be made.
(c) Contracts or coverage covering more than one insured

In the case of contracts or coverage covering more than one insured, the return and statement required by subsections (a) and (b) shall identify only the portion of the premium that is properly allocable to the insured in respect of whom the return or statement is made.

(d) Statement to be furnished on request

If any individual to whom a return is required to be furnished under subsection (b) requests that such a return be furnished at any time before the close of the calendar year, the person required to make the return under subsection (b) shall comply with such request and shall furnish to the Secretary at such time a copy of the return so provided.

(Added Pub. L. 117–328, div. T, title III, § 334(d)(1), Dec. 29, 2022, 136 Stat. 5371.)

Cross-references

Computed from the citations in the text of Title 26 and 26 CFR.

This section cites 1 other section

Cited by 1 Code section

Cited in 2 regulations not issued under it

Amendment history

From the source credit and the official notes, newest first.

  1. Added by Pub. L. 117–328

Where it sits in the Code

  1. Subtitle F Procedure and Administration
  2. Chapter 61 INFORMATION AND RETURNS
  3. Subchapter A Returns and Records
  4. Part III INFORMATION RETURNS
  5. Subpart B Information Concerning Transactions With Other Persons

Nearby sections

Official notes

Show the Law Revision Counsel's notes (amendments, effective dates)

Effective Date

Section applicable to distributions made after the date which is 3 years after Dec. 29, 2022, see section 334(e) of Pub. L. 117–328, set out as an Effective Date of 2022 Amendment note under section 72 of this title.